Press release from Business Wire
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors With Losses on Their Investment in Harvest Natural Resources, Inc. of Class Action Lawsuit and the Deadline of May 21, 2013 to Seek a Lead Plaintiff Position
Tuesday, May 14, 2013
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors With Losses on Their Investment in Harvest Natural Resources, Inc. of Class Action Lawsuit and the Deadline of May 21, 2013 to Seek a Lead Plaintiff Position12:56 EDT Tuesday, May 14, 2013
NEW YORK (Business Wire) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Harvest Natural Resources, Inc. (“Harvest” or the "Company") (NYSE: HNR) stock between May 7, 2010 and March 18, 2013.
Click here to learn more about the investigation http://zlk.9nl.com/harvest-natural-resources/, or call: 877-363-5972. There is no cost or obligation to you.
The complaint alleges that the defendants issued materially false and misleading statements and/or failed to disclose that the Company: (a) incorrectly capitalized lease maintenance costs and internal selling, general and administrative costs; (b) improperly reported cash flow items and caused long-lived assets to be impaired; (c) was unable to sell its interests in Petrodelta S.A. to PT Pertamina (Persero); and (d) lacked adequate internal and financial controls.
On March 19, 2013, Harvest disclosed that there were errors in its financial statements and that certain material weaknesses existed in its controls over the accuracy and presentation of its accounting for certain assets. As a result of these errors, the Company announced it would revise its financial statements for periods in 2010, 2011 and 2012. On this news, Harvest securities plummeted more than 32%, to close at $3.70 per share on March 19, 2013.
If you suffered a loss in Harvest you have until May 21, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/harvest-natural-resources/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
(212) 363-7500, toll-free: (877) 363-5972